Redwire (NYSE:RDW) Trading 4.7% Higher – Here’s Why

Shares of Redwire Corporation (NYSE:RDW) traded up 4.7% during trading on Tuesday . The stock traded as high as $12.50 and last traded at $12.2450. 34,894,762 shares were traded during trading, an increase of 8% from the average session volume of 32,254,920 shares. The stock had previously closed at $11.69.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RDW shares. Zacks Research raised shares of Redwire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Wall Street Zen raised shares of Redwire from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Redwire in a research note on Tuesday, April 21st. Jefferies Financial Group upgraded shares of Redwire to a “hold” rating in a report on Wednesday, June 10th. Finally, Truist Financial raised shares of Redwire to a “strong-buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.44.

Redwire Trading Down 5.4%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.75. The company has a 50-day simple moving average of $14.31 and a 200 day simple moving average of $11.14. The company has a market capitalization of $2.70 billion, a P/E ratio of -4.21 and a beta of 3.01.

Redwire (NYSE:RDW) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.24). The business had revenue of $96.97 million for the quarter, compared to analyst estimates of $105.94 million. Redwire had a negative return on equity of 11.68% and a negative net margin of 80.90%.The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. Sell-side analysts expect that Redwire Corporation will post -0.76 earnings per share for the current year.

Insider Buying and Selling

In other Redwire news, Director Ae Red Holdings, Llc sold 3,145,207 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $10.57, for a total value of $33,244,837.99. Following the completion of the sale, the director directly owned 26,273,144 shares of the company’s stock, valued at $277,707,132.08. This represents a 10.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 13,211,433 shares of company stock worth $147,576,208. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Redwire by 125.0% in the first quarter. AQR Capital Management LLC now owns 51,437 shares of the company’s stock valued at $426,000 after buying an additional 28,576 shares during the period. Goldman Sachs Group Inc. raised its holdings in Redwire by 352.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company’s stock valued at $2,945,000 after acquiring an additional 276,814 shares in the last quarter. Strs Ohio acquired a new position in Redwire in the 1st quarter valued at approximately $69,000. Rhumbline Advisers lifted its position in shares of Redwire by 61.0% in the 2nd quarter. Rhumbline Advisers now owns 56,517 shares of the company’s stock worth $921,000 after acquiring an additional 21,417 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Redwire by 57.6% in the 2nd quarter. Invesco Ltd. now owns 21,198 shares of the company’s stock worth $346,000 after acquiring an additional 7,750 shares during the period. Institutional investors own 8.10% of the company’s stock.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.